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DIGITAL FRAUD COMPENSATION
Lost Rs 50,000 in digital fraud? Soon, you can get 85% amount back if you follow these rules - 3 calculations to explain how this worksAs per the latest RBI guidelines, if you have lodged a complaint for the fraudulent transaction within 5 calendar days, you shall be compen...- RBI finalises digital banking fraud protection rules; introduces shadow reversal, extends relief to sole proprietorsVictims of digital payment fraud losing up to Rs 50,000 can now get up to Rs 25,000 compensation from banks, effective January 1, 2027. The...
- RBI mandates kill switch for AI models at banks, introduces comprehensive model risk frameworkThe Reserve Bank of India is implementing stringent rules for banks and financial entities using Artificial Intelligence. A new draft frame...
- RBI expands digital fraud protection, introduces compensation for small-value scam victimsThe RBI has expanded customer protection rules for digital payment frauds to cover cases where people are tricked into sending money to sca...
- Can DigiLocker replace your bank locker? What you need to know about storing important documentsIndians face a choice between traditional bank lockers and the government's DigiLocker for important documents. While DigiLocker offers con...
- The safe keepers: Inside India's booming locker economyIndia’s locker economy is booming amid rising gold prices and household wealth. While banks remain the preferred repository, private vault ...
- 161,000 affected in Krispy Kreme data breach settlement: Eligibility, payout details, and claim rules explainedThe Krispy Kreme Data Breach Settlement has drawn attention after reports confirmed a 2024 data breach affecting about 161,000 individuals ...
- Good news for senior citizens: Money in this bank can now only be transferred by double OTP verification one to a/c holder and another to trusted contactSenior citizens in Gurugram and Faridabad now have enhanced security for their bank accounts. HDFC Bank has introduced a double OTP system....
- Comcast's dirty secret cost them $117 million, you could be owed $10,000; here's how to grab your share by August 14The Comcast $117.5 million settlement has triggered a nationwide rush as millions of Americans now check eligibility for a possible $10,000...
- Skyroot, a newborn unicorn; AI pay gap growsSkyroot Aerospace became India’s first spacetech unicorn after its latest funding round. This and more in today’s ETtech Top 5.
- The growing pay gap: AI skills drive 60% higher salaries in techAI-skilled professionals are commanding significant pay premiums, earning up to 60% more than their peers in other tech fields. This wideni...
- Inside WhatsApp's measures to curb digital arrest scamsWhatsApp is using AI to combat digital arrest scams, banning thousands of impersonating accounts. Authorities are working to prevent signif...
- WhatsApp banned 9,400 accounts involved in digital arrest scams since January this year: Centre to SCAuthorities are launching a major crackdown on digital arrest scams. WhatsApp has banned thousands of accounts involved in these frauds. Ne...
- CJI Surya Kant flags rising 'digital arrest' scams duping educated peopleChief Justice of India Surya Kant voiced shock at educated people being defrauded by digital arrests. A recent case involved an elderly wom...
- Compensation for cyber fraud: RBI’s new initiative works for many customers but know when it doesn’t work for othersDigital transactions are rising in India. This has led to an increase in digital frauds. The RBI is proposing compensation for customers lo...
- Got scammed online? You may get up to 85% refund or Rs 25,000 under RBI’s proposed rules; eligibility and process explainedThe Reserve Bank of India (RBI) has proposed new regulations to enhance the safety of bank customers from online fraud. These draft guideli...
- RBI caps claims for small-value digital frauds at Rs 50,000; banks to prove customer liabilityRBI new digital fraud rules: Compensation will be provided if the loss is established as genuine under the bank’s internal policy and the v...
- RBI plans ₹25,000 cover for small digital fraud lossesThe Reserve Bank of India on Friday proposed a set of consumer protection steps to guard users against digital fraud, including a plan to c...
- Online fraud losses? RBI may compensate up to ₹25,000, but conditions apply. Check hereThe Reserve Bank of India will propose a framework to compensate customers up to ₹25,000 for losses from small-value fraudulent digital tra...
- RBI acts on fraud: Customers to get up to Rs 25,000 compensation for losses incurred in small value fraudulent transactions, announces RBIBank customers who fall victim to small value financial fraud can now receive compensation. The Reserve Bank of India announced this new po...
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